BROSSARD, Quebec, Nov. 26, 2019 (GLOBE NEWSWIRE) -- Diagnos Inc. (“DIAGNOS” or “the Corporation”) (TSX Venture: ADK) (OTCQB:DGNOF) a leader in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI), announces a financing of $400,000 in the form of one short term debt agreement.
DIAGNOS and one arm’s length person (the “Lender”) have entered into one unsecured and non-convertible loan agreement (the “Loan”) for an amount of $400,000. The Loan bears no interest and is repayable by the Corporation at the earliest of (i) the closing date of a future round of financing of at least $3,000,000, or (ii) May 26th, 2020. As a bonus to the Loan, the Corporation is granting the Lender 3,076,922 non-transferable share purchase warrants (each a “Warrant”) enabling its holder to purchase one common share of the Corporation per Warrant, at a price of $0.13 per share, for a period of twelve months ending November 26, 2020 (“Loan Bonus”).
The Loan proceeds will be used to fund the operating expenses of the Corporation.
The Warrants and underlying common shares are subject to a four-month hold period ending March 26, 2020. The Loan Bonus remains subject to the final approval of the TSX Venture Exchange. All monies quoted in this press release are stated in lawful money of Canada, unless otherwise specified.
About DIAGNOS
DIAGNOS is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care. CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time. CARA complies with local regulations, is FDA cleared for commercialization in the United States of America, is Health Canada licensed for commercialization in Canada and is CE marking compliant in Europe.
Additional information is available at www.diagnos.com and www.sedar.com
This news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publically update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Mr. André Larente, President
DIAGNOS Inc
Tel: 450-678-8882 ext. 224
alarente@diagnos.ca
